Advait Infratech Shares zoom on bagging order worth Rs 38.80 crore

Advait Infratech has got a Rs 35.80 crore order for the supply of Optical Fibre Ground Wire (OPGW). The order must be completed within 12 months of the date of the Letter of Award. Previously, the business had secured a Rs 30.27 crore deal for OPGW installation work.

Advait Infratech is in the business of providing products and solutions for power transmission, power substation, and telecommunication infrastructure fields. The company is also diversifying into renewable energy in 2023 and recently launched Greenergy Private Limited, a subsidiary dedicated to making green energy affordable to everyone through cutting-edge technology. This strategic move underscores Advait Infratech’s dedication to creating a greener, more sustainable future for all.

Earlier, the company was awarded a green hydrogen project by THDC India. This pilot project aimed to demonstrate the feasibility of using hydrogen as a medium for storing renewable electricity. Advait Infratech set up a 300 kW electrolyzer and a 70-kW fuel cell, which generated 70 kW of electricity for 12 hours. This electricity was used for THDC India’s premises and to supply electricity to their residential apartments. The project stored excess electricity generated from the solar panels on-site in the form of hydrogen, which could be used later when the demand for electricity exceeded the supply.

Advait Infratech is currently trading at Rs 408, up by 27.60 points or 7.26% from its previous closing of Rs 380.40 on the BSE. The scrip opened at Rs 395 and has touched a high and low of Rs 418.40 and Rs 388, respectively. So far 66279 shares were traded on the counter.

The BSE group ‘B’ stock of face value of Rs 10 has touched a 52-week high of Rs 431.80 and a 52-week low of Rs 86. Last one week high and low of the scrip stood at Rs 418.40 and Rs 358.30 respectively. The current market cap of the company is Rs 418.20 crore. The promoters holding in the company stood at 73.53%, while Non-Institutions held a 26.47% stake in the company.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.